Question: At the 2007 Math Olympics, Team Canada won $17$ out of a possible $100$ medals. Which one of the following is closest to the fraction of medals that they won? $$
\frac{1}{4} \qquad \frac{1}{5} \qquad \frac{1}{6} \qquad \frac{1}{7} \qquad \frac{1}{8}
$$
Answer: At the 2007 Math Olympics, Canada won $17$ of $100$ possible medals, or $0.17$ of the possible medals. We convert each of the possible answers to a decimal and see which is closest to $0.17:$ \[\frac{1}{4}=0.25 \quad
\frac{1}{5}=0.2 \quad
\frac{1}{6}=0.166666... \quad
\frac{1}{7}=0.142857... \quad
\frac{1}{8}=0.125 \]The choice that is closest to $0.17$ is $\boxed{\frac{1}{6}}.$